NO! You Didn't, Did You? tells of my recent escapade with a nasty little lender who was absolutely the most unprofessional person that I've ever worked with. In case you haven't read the post--that statement pretty much sums it up!
Forward to the week of Closing:
5 days prior to Closing: No appraisal has been ordered, nor has the loan application been submitted. After MY phoning to inquire as to whether or not the property appraised, the lender tells me that she hasn't ordered one yet! After a very patient conversation, I convince her that both of these tasks need to be done by days' end or we MUST return back to the original lender to get this loan closed on time. I receive a call from the appraiser saying that she has an 'emergency appraisal' to do that afternoon and could I get that scheduled right away! ABSOLUTELY and I did and we came in over Contract price!
4 days prior to Closing: I receive a nasty call from the lender saying that MY attorney (the Buyer's attorney, actually) is not answering her calls and she MUST have HER attorney take over this transaction because he can do a 15-minute title search so that she can submit her package. I told her to give me five minutes to consult the attorney that had already been hired to Close this deal and see if I can get the title work over to her. One minute later I was speaking to the paralegal who said that I must be calling about the Jones Closing that the 'extremely rude' lender had phoned her about 15 minutes prior! YEP, that's right, she had JUST phoned the attorney--yet another forgotten task of hers that she was putting off as someone else's fault. As a matter-of-fact, the attorney HAD ordered the title work and it HAD been done but, the lender had not submitted the Title Request and the attorney would not release the docs until that was received. Furthermore, do YOU want a title search done on your property that has only taken 15 minutes to research?
3 days prior to Closing: Lender does not return ANYONE's phone calls--not the attorney, paralegal, listing agent, buyer's agent, nor the BUYER! We're all wondering if this thing is going to Close or if the lender has fallen off the face of the earth (Please, just wait until AFTER Closing to do that!)
Day before Closing: Lender says the package will be there to meet the 24-hour HUD-1 deadline and there are NO problems--She further adds: "Your client has TONS of money and could pay cash for this _________ house, I don't know why all of you have such an impatient attitude with me!! You're all rude and I've never worked with such hateful people in my life!" Let me add this--I was SUGAR sweet to this girl after our first confrontation because I had the interest of the BUYER in mind and did not want to jeopardize this Closing in the event she decided to be vindictive. So, I had no idea why she was shouting and cursing at ME!
Closing Day: Here we are, a.m. of Closing at 11:00--no package and no answer of the phone or email. Again, we're all just rocking back and forth, praying that this thing is going to finally END! To sum it up, we FINALLY received a package at 2:00 which was quickly rescinded and a new one issued at 3:00. This was repeated 4, yes, FOUR times! We walked out of Closing at 6:30. She made 4 different mistakes that had to be corrected and she didn't even bother to apologize--AT ALL!
I have to say, we had 7-1/2 hours (take or give 45 minutes for the actual signing) to sit and get the lender-bashing out of our systems!! We have not yet decided how to handle this as she is really not held accountable by anyone and she has the audacity to let us know via the paralegal that she will never work with any of us again!! We all got a charge out of that--because, I don't think she has anything to worry about!
The Deed could not be recorded as it was supposed to be on Friday but, my client was allowed to move in this weekend. Our attorney was phoenominal and we're all just grateful to have this deal over and done with!!